Applicability of AS-17 Segment Reporting

hi

AS-17 "Segment reporting" as per accounting standard rules 2006, is not mandatory for SMC(small and medium companies)

as per definition of SMC compnies listed and having turnover over Rs. 50 crores are not classified as SMC

Bt according to me dis has been revised in accordance with IFRS-8.....

plz chk it out once again...

till now ifrs is not applicable to companies other than companies of more than 1000cr. turnover

Hi Sonal, the expected date of IFRS convergence is 1.4.2011. till that time our Indian GAAP's will be applicable. As far as AS 17 is concerned, it is applicable in its entirety to all non- SMCs in case of companies and all level I entities in case of non-corporate entities. Certain exemptions are available to SMCs and Level II and III entities

Regards, CA Shakuntala Chhangani